This invention relates generally to a wall stud detector and magnet. The wall stud detector and magnet may operate as a locator and marker for metal studs in walls or beams or the like. More specifically, the invention is directed towards a device which can be used on a wall or other relevant surface, and which can, through the use of magnets, identify and locate metal objects, such as screws, nails, tacks or the like, in the wall which are used to secure wooden beams in the framing of walls and other structures. Further, the invention relates to magnetic markers which can be magnetically held on a wall at an area of a nail, screw or the like, for the purposes of marking a spot, or securing an object to the wall. Such an object will typically comprise relatively light objects such as paper, photographs or the like. However, where stronger magnets are used, this may facilitate the ability for the wall stud locator and marker of the invention to hold heavier objects. Such heavier objects may include, but are not limited to, chains, lights, levels and the like.